Economy

Economy—overview: The tourist sector contributes over 50% of GDP. In 1995 more than 3.3 million tourists visited San Marino. The key industries are banking wearing apparel electronics and ceramics. Main agricultural products are wine and cheeses. The per capita level of output and standard of living are comparable to those of Italy which supplies much of its food.

GDP: purchasing power parity—$500 million (1997 est.)

GDP—real growth rate: 4.8% (1994 est.)

GDP—per capita: purchasing power parity—$20 000 (1997 est.)

GDP—composition by sector:

agriculture: NA%

industry: NA%

services: NA%

Inflation rate—consumer price index: 5.3% (1995)

Labor force:

total: 15 600 (1995)

by occupation: services 55% industry 43% agriculture 2% (1995)

Unemployment rate: 3.6% (April 1996)

Budget:

revenues: $320 million

expenditures: $320 million including capital expenditures of $26 million (1995 est.)

Industries: tourism textiles electronics ceramics cement wine

Industrial production growth rate: NA%

Electricity—capacity: NA kW

note: electricity supplied by Italy

Electricity—production: NA kWh

note: electricity supplied by Italy

Electricity—consumption per capita: NA kWh

Agriculture—products: wheat grapes maize olives; cattle pigs horses meat cheese hides

Exports: trade data are included with the statistics for Italy; commodities: building stone lime wood chestnuts wheat wine baked goods hides and ceramics

Imports: trade data are included with the statistics for Italy; commodities: wide variety of consumer manufactures food

Debt—external: $NA

Economic aid:

recipient: ODA $NA

Currency: 1 Italian lire (Lit) = 100 centesimi; note—also mints its own coins

Exchange rates: Italian lire (Lit) per US$1—1 787.7 (January 1998) 1 703.1 (1997) 1 542.9 (1996) 1 628.9 (1995) 1 612.4 (1994) 1 573.7 (1993)

Fiscal year: calendar year